NEW YORK, Jan. 07, 2021 (GLOBE NEWSWIRE) — Greystone, a number one nationwide industrial actual property finance firm, has supplied a $22.2 million HUD-insured mortgage to refinance a 127-bed expert nursing facility in Cortlandt, New York. The financing was originated by Fred Levine, Managing Director in Greystone’s Monsey, New York workplace.
The $22,217,200 everlasting FHA refinance carries a low, fastened rate of interest and 35-year time period and amortization. The non-recourse mortgage refinances and consolidates the asset’s present debt and permits the borrower to proceed making ongoing enhancements to the property.
Initially inbuilt 1984, the Yorktown Rehabilitation & Nursing Heart is a three-story constructing set in a park-like campus with 127 beds providing complete, short- and long-term rehabilitation, and high-level post-acute care companies. The power offers doctor companies and sophisticated medical care, along with occupational remedy, bodily remedy, cardiac remedy, speech remedy, post-surgical orthopedic care, stroke restoration, hip restore/joint alternative restoration, amputee restoration and coaching, off-site dialysis, bariatric rehabilitation, wound care, and IV antibiotic remedy. Residents get pleasure from facilities corresponding to private concierge companies, neighborhood sitting and media rooms, therapeutic recreation, a magnificence salon and barber companies, every day laundry and housekeeping, and counseling and help. Positioned inside a 15-mile radius of three acute-care hospitals, the property can be close to three assisted dwelling services, and near neighborhood industrial companies and medical facilities.
“The HUD 232 program stays the gold normal in financing for expert nursing dwelling operators. We work diligently to convey shoppers to this platform,” mentioned Mr. Levine. “The success of our time-tested HUD transaction course of is evidenced by our long-standing consumer relationships — shoppers preserve coming again to Greystone as a result of they respect the service, stage of experience and expertise our staff brings to each transaction.”
Greystone is a personal nationwide industrial actual property finance firm with a longtime status as a pacesetter in multifamily and healthcare finance, having ranked as a prime FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are provided by Greystone Servicing Firm LLC, Greystone Funding Firm LLC and/or different Greystone associates. For extra info, go to www.greystone.com.